Wendy Carlin, David Soskice,(2018), “The macroeconomic performance paradox: A new model”, Vox, 23 January
Following the post-financial crisis recession, standard macroeconomic models would have predicted either a destabilising deflationary spiral, or a return to the central bank’s inflation target with a positive ‘neutral’ real interest rate, along with a rebound of productivity growth, falling unemployment, and rising inflation.
Relevant Posts
- Francesco Papadia, (2018), «Macroprudential policy: The Maginot line of financial stability«, Bruegel, 17 January
- Cinzia Alcidi, Jorge Núñez Ferrer, Mattia Di Salvo,Roberto Musmeci and Marta Pilati, (2018), «Income Convergence in the EU: A tale of two speeds», CEPS, 9 January